Laing O’Rourke says turnover could fall below £2bn because of covid shutdown

By Dave Rogers2020-12-16T05:00:00

Cost of dealing with pandemic tops £16m, country’s biggest private contractor says

Laing O’Rourke has warned that its turnover could be down by as much as one fifth this year because of the covid shutdown in the spring as the firm said the cost of dealing with the pandemic had topped £16m.

The financial year of the country’s biggest private contractor is still more than three months away but new chief financial officer Rowan Baker, the former McCarthy & Stone finance chief who replaced the retiring Stewart McIntyre in September, said sites being forced to close for weeks after the prime minister imposed a national lockdown in March could wipe between 10% and 20% off revenue by the time its latest reporting period ends on 31 March next year.

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